Altair Engineering (ALTR) Now Covered by Needham & Company LLC

Equities researchers at Needham & Company LLC initiated coverage on shares of Altair Engineering (NASDAQ:ALTR) in a note issued to investors on Monday, The Fly reports. The firm set a “buy” rating on the semiconductor manufacturer’s stock.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Altair Engineering from a “hold” rating to a “sell” rating in a report on Friday. Canaccord Genuity lifted their price target on shares of Altair Engineering from $25.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday. Royal Bank of Canada lifted their price target on shares of Altair Engineering to $29.00 and gave the stock a “sector perform” rating in a report on Monday, March 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their price target on shares of Altair Engineering to $34.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Berenberg Bank assumed coverage on shares of Altair Engineering in a report on Tuesday, January 30th. They set a “buy” rating and a $33.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Altair Engineering presently has an average rating of “Hold” and a consensus target price of $31.83.

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Shares of Altair Engineering (ALTR) traded up $1.81 during trading on Monday, reaching $32.12. 331,997 shares of the company’s stock were exchanged, compared to its average volume of 264,012. Altair Engineering has a 1 year low of $16.55 and a 1 year high of $33.38.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Wednesday, March 21st. The semiconductor manufacturer reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12. The company had revenue of $89.90 million during the quarter, compared to analyst estimates of $87.56 million. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. equities research analysts expect that Altair Engineering will post 0.26 EPS for the current fiscal year.

Several large investors have recently modified their holdings of ALTR. Bamco Inc. NY acquired a new position in shares of Altair Engineering during the fourth quarter worth $50,245,000. BlackRock Inc. acquired a new position in Altair Engineering in the fourth quarter valued at $16,950,000. Eaton Vance Management acquired a new position in Altair Engineering in the fourth quarter valued at $14,402,000. Driehaus Capital Management LLC acquired a new position in Altair Engineering in the fourth quarter valued at $13,099,000. Finally, Citadel Advisors LLC acquired a new position in Altair Engineering in the fourth quarter valued at $8,972,000. Institutional investors own 20.51% of the company’s stock.

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About Altair Engineering

Altair Engineering Inc is a United States-based software company. The Company is focused on developing engineering software and computing technologies. The Company’s products include HyperWorks, solidThinking, PBS Works, and Carriots. The Company offers a range of solutions such as product engineering, industrial design, and tailored solutions.

The Fly

Analyst Recommendations for Altair Engineering (NASDAQ:ALTR)

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